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Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
 The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.
According to the latest weekly report issued by Commodore Research, “iron ore fixtures remain relatively low due to the ongoing restrictions on electricity allocation to Chinese steel mills. Overall chartering activity also came under pressure last week due to holidays in Asia. 19 iron ore fixtures were reported last week, a decrease from 24 iron ore fixtures reported during the previous week. 15 of last week’s iron ore fixtures were for capesize vessels, an increase from 12 capesize vessels chartered to haul ore during the previous week. Global coal and grain demand have remained moderate but have not been robust enough to stem the fall in spot freight rates” the report said.
As a result of this negative trend, Capesize rates are currently averaging $29,002/day, a decrease of $4,810 (-14%) from a week ago. Panamax rates are now averaging $21,840/day, a decrease of $1,685 (-7%). Supramax rates are averaging $19,644/day, a decrease of $1,397 (-7%). Handysize rates are averaging $15,666/day, a decrease of $298 (-2%).
At the same time period chartering activity also remained subdued, with 92 spot trip fixtures (28 less than the previous week) and 16 period fixtures (1 less than the previous week) were reported last week. Commodore said that none of the period deals were for a year or more. “Sentiment remains somewhat negative due to the going electricity restrictions to steel mills in China. Last week marked the first time in eleven weeks that no period deals for a year or more were reported. At that time, sentiment was very negative due to spot freight rates approaching 2010 lows.
The report mentioned that “market players remain spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills - but so far Chinese steel production has reportedly only decreased by 2%. The electricity restrictions will continue to represent a significant threat to near-term dry bulk freight rates, however, and must continue to be monitored extremely closely. Several analysts have forecast that Chinese steel output will decline by as much as 10% due to the ongoing electricity restrictions.
Based on August’s 51.64 million tons of crude steel production, this would put post-restriction monthly output at approximately 46.5mt, an amount not seen since May 2009. We continue to anticipate that Chinese steel demand will exceed most expectations. Chinese stockpiles have remained steady in recent weeks and there is little reason to believe that immediate steel demand has significantly decreased. We expect Chinese steel production to range between 48 to 49mt of crude steel in September and October.
The Chinese government cannot afford to have steel prices surge due to an artificial restraint on supply. Inflation is already a growing concern in China. The National Development and Reform Commission has also criticized the electricity allocation restrictions” concluded Commodore.
In terms of the secondhand and demolition activity of the past week, shipbroker Golden Destiny said that in total there were 39 sales reported. The activity was high at both the S&P and the newbuilding market with 32 & 34 orders reported in total respectively. “The secondhand market has been marked with a 100% positive yearly change with 32 vessels reported to have changed hands this week equalling a total amount of money invested more than US$796,800,000, since in 9 transactions the price hasn’t been disclosed. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 218,513 tons, while in 2009 14 vessels reported for scrap indicating a negative yearly change of 100%. In the newbuilding market, 34 vessels reported to have been ordered equalling a total deadweight around 1,683,000 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 1,076,000 tons, with orders from kamsarmaxes, panamaxes & supramaxes being the most popular vessel types. The Greek presence has been noticed this week only in the secondhand market with 6 transactions, two in the in the post panamax bulkcarrier sector and four in the small panamax container sector. The cumulative amount invested by Greek investors in the secondhand market can be calculated only by the bulkcarrier acquisitions around $ 82,000,000, since the price of the Container enbloc transaction has not been disclosed” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
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